Wishfin Acquires Ladders to Simplify Digital Access to Financial Products
Last Updated : Jan. 14, 2021, 7:45 p.m.
Fintech major Wishfin has acquired Ladders, a fintech startup founded by Prakhar Aggarwal. Following the acquisition, Ladders Team comprising Prakhar Aggarwal will join Wishfin. Ladders has been successful in creating a multi-stage user experience that integrates information in the journey, thereby simplifying complicated products such as Mutual Funds and Insurance. As a result, customers can understand these products better and make the right financial decision for themselves.
Lauding the unique user experience of Ladders allowing easy access to financial products, Chairman & MD of Wishfin.com Puru Vashishtha expressed that Wishfin has been eyeing to improve the digital access to these products. He added that Wishfin has been looking for inorganic growth via acquisitions to expand its product suite and businesses. The acquisition aligns with Wishfin’s strategy to allow its 37 million customers across India to access investment and insurance products easily by leveraging the products of Ladders. Wishfin will also use these products to educate customers, particularly about Mutual Funds and Insurance.
Company Profile
Let’s take a quick look at the profile of both Wishfin and Ladders, starting with the former.
Wishfin
Wishfin is a neutral financial marketplace that allows customers to compare and apply for loans, mutual funds, credit cards, etc. As India’s Leading Lending Marketplace , Wishfin has a high customer base of 37 million . NUMBERS don’t stop here as it adds around 7 lakh customers every month. The fintech major has disbursed retail loans worth $3.5 billion so far through its platform.
It has achieved the distinction of being the First Fintech company to offer CIBIL Score for FREE on WhatsApp , in collaboration with TransUnion CIBIL. All you need to do is give a missed call to 8287 151 151.
Backed by renowned investors, Wishfin has become one of the largest digital partners for top banks across India. The elite list of investors includes Ram Shriram, an early investor in Google and the Founding Board Member of the search engine giant, Neeraj Arora, Ex-head of Business at WhatsApp, and Franklin Templeton, one of the world’s largest investment companies with an Asset Under Management (AUM) of more than $1 trillion.
Ladders
Prakhar Aggarwal founded Ladders while he was at Birla Institute of Technology and Science. Ladders seeks to streamline investing by removing the clutter that comes in the way.